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Sony Network and Astar Network have partnered to launch a web3 incubation program.
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The program will support projects that focus on the utility of NFTs and DAOs.
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The incubation program will be organised by Startale Labs.
Astar Network and Sony Network set up a web3 incubation program
Sony Network Communications, a business division of The Sony Group, has announced a strategic partnership with Astar Network, a leading multi-chain smart contract network.
The partnership has seen the two entities launch a Web3 incubation program for projects that focus on the utility of non-fungible tokens (NFTs) and decentralised autonomous organizations (DAOs).
The companies revealed that Singapore-based Startale Labs would organise the Web3 incubation program. The program will run from mid-March to mid-June of 2023. Projects interested in joining the program can apply starting today, Friday 17th, until March 6th.
According to the companies, accepted projects will be divided into 10 to 15 groups. They will learn various aspects of the web3 ecosystems from global venture capital firms such as Dragonfly, Fenbushi Capital and Alchemy Venture.
The incubation program will focus on real-world use cases of blockchain
According to Sony Network Communications, the incubation program is designed to look at the various ways blockchain technology can solve numerous problems in their industry.
Furthermore, Sony Network can invest in projects in the incubation program. Astar Network has rolled out some exciting features since the start of the year.
Last month, Astar Network launched its Cross-Virtual Machine (XVM) functionality on the public testnet Shibuya. At the time, Astar Network said allowed projects to build on its network seamless interoperability between different smart contract environments such as the Ethereum Virtual Machine (EVM) and WebAssembly (WASM).
In November 202, the Astar Network also rolled out Swanky, an all-in-one tool that gives developers what they require to build WebAssembly (WASM) smart contracts easily.
Also in January, Astar Network partnered with Toyota, one of the leading car manufacturers in the world, on a web3 hackathon.